BEIJING, July 6 /PRNewswire-Asia-FirstCall/ -- Dehaier Medical Systems Ltd. (Nasdaq: DHRM), an emerging leader in the development, assembly, marketing and sale of medical devices and homecare medical products in China, announced today that it has signed a contract to sell 10,000 oxygen-chip units to Beijing C&D Co., Ltd. for RMB11 million (about $1.58 million).
The patented oxygen-chip, jointly developed by Dehaier and the University of Science and Technology Beijing in 2008, is the core part of an oxygen concentrator. The oxygen concentrator's small size and simplified procedures for oxygen production ensure that oxygen density reaches 93%. Such high concentrations of oxygen are important for use by patients with cardiovascular disease, respiratory diseases such as chronic obstructive pulmonary disease, and geriatric patients. Dehaier oxygen-chip production technology is widely regarded as an industry leader.
CEO Ping Chen said, "This sales contract substantiates the strong competitive advantage enjoyed by our home oxygen therapy products and their influence in the market. This gives us confidence about our ability to expand our sales to the overseas home oxygen therapy market. With our proprietary oxygen-chip, any manufacturing factory will be able to produce state-of-the- art oxygen concentrators, which can be used to create standard oxygen density with pressure supply devices."
About Beijing C&D Co., Ltd.
As a wholly owned subsidiary of Xiamen C&D Inc., Beijing C&D Co., Ltd. provides importing agency service and commercial service in the field of industrial instrument and machinery, medical devices, industrial chemicals and laboratory instruments. More information may be found at: http://www.chinacnd.com/web/home .
About Dehaier Medical Systems Ltd.
Dehaier Medical Systems is an emerging leader in the development, assembly, marketing and sale of medical products in China, including respiratory and oxygen homecare medical products. The company develops and assembles its own branded products from third party components. The company also distributes products designed and manufactured by other companies including medical devices and respiratory and oxygen homecare products from IMD (Italy), Welch Allyn (USA), Penlon (UK), HEYER (Germany), Timesco (UK), ResMed (Australia) and JMS (Japan). Dehaier's technology is based on two patents, five pending patents and proprietary technology. More information may be found at http://www.chinadhr.com .
Information for investors, including an investment profile about Dehaier is available at http://www.hawkassociates.com/profile/dhrm.cfm . An online investor kit including press releases, current price quotes, stock charts and other valuable information for investors is available at http://www.hawkassociates.com .
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
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|SOURCE Dehaier Medical Systems Ltd.|
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